TriplePoint Venture Growth BDC (NYSE:TPVG) PT Lowered to $6.50 at Wells Fargo & Company

TriplePoint Venture Growth BDC (NYSE:TPVG - Get Free Report) had its price objective cut by research analysts at Wells Fargo & Company from $8.00 to $6.50 in a research note issued on Tuesday, Benzinga reports. The brokerage currently has an "underweight" rating on the investment management company's stock. Wells Fargo & Company's price objective indicates a potential downside of 2.11% from the stock's current price.

A number of other brokerages have also commented on TPVG. LADENBURG THALM/SH SH lowered shares of TriplePoint Venture Growth BDC from a "buy" rating to a "neutral" rating and cut their price objective for the stock from $8.50 to $8.00 in a research report on Friday, August 9th. Keefe, Bruyette & Woods cut their price target on shares of TriplePoint Venture Growth BDC from $9.00 to $8.00 and set an "underperform" rating on the stock in a research report on Friday, August 9th. Finally, Piper Sandler decreased their price objective on TriplePoint Venture Growth BDC from $9.50 to $8.00 and set a "neutral" rating for the company in a report on Thursday, August 8th. Three investment analysts have rated the stock with a sell rating and four have given a hold rating to the company. Based on data from MarketBeat, TriplePoint Venture Growth BDC has a consensus rating of "Hold" and an average target price of $7.85.

TriplePoint Venture Growth BDC Stock Down 2.4 %

Shares of NYSE:TPVG traded down $0.16 during midday trading on Tuesday, reaching $6.64. 251,462 shares of the company were exchanged, compared to its average volume of 359,722. The firm has a market cap of $265.27 million, a PE ratio of -22.20 and a beta of 1.79. TriplePoint Venture Growth BDC has a fifty-two week low of $6.60 and a fifty-two week high of $11.58. The stock has a fifty day simple moving average of $7.11 and a two-hundred day simple moving average of $8.18.

TriplePoint Venture Growth BDC (NYSE:TPVG - Get Free Report) last issued its quarterly earnings results on Wednesday, August 7th. The investment management company reported $0.33 EPS for the quarter, missing analysts' consensus estimates of $0.43 by ($0.10). The firm had revenue of $27.11 million during the quarter, compared to the consensus estimate of $28.77 million. TriplePoint Venture Growth BDC had a negative net margin of 8.03% and a positive return on equity of 18.24%. During the same quarter last year, the firm earned $0.53 earnings per share. As a group, analysts forecast that TriplePoint Venture Growth BDC will post 1.4 earnings per share for the current year.

Insider Activity at TriplePoint Venture Growth BDC

In other TriplePoint Venture Growth BDC news, President Sajal Srivastava purchased 11,298 shares of the stock in a transaction on Monday, August 12th. The shares were purchased at an average price of $7.02 per share, with a total value of $79,311.96. Following the completion of the transaction, the president now directly owns 250,858 shares in the company, valued at $1,761,023.16. This represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 1.40% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On TriplePoint Venture Growth BDC

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Farmers & Merchants Investments Inc. boosted its holdings in shares of TriplePoint Venture Growth BDC by 116.9% during the 1st quarter. Farmers & Merchants Investments Inc. now owns 9,833 shares of the investment management company's stock worth $93,000 after buying an additional 5,300 shares during the period. Norden Group LLC grew its position in shares of TriplePoint Venture Growth BDC by 739.7% in the first quarter. Norden Group LLC now owns 125,020 shares of the investment management company's stock valued at $1,185,000 after purchasing an additional 110,132 shares during the last quarter. Van ECK Associates Corp increased its stake in shares of TriplePoint Venture Growth BDC by 10.0% during the first quarter. Van ECK Associates Corp now owns 727,532 shares of the investment management company's stock worth $6,897,000 after purchasing an additional 66,002 shares during the period. Hartline Investment Corp bought a new position in shares of TriplePoint Venture Growth BDC during the first quarter worth approximately $98,000. Finally, Diversify Advisory Services LLC acquired a new stake in TriplePoint Venture Growth BDC during the 1st quarter worth approximately $126,000. 12.77% of the stock is owned by institutional investors.

TriplePoint Venture Growth BDC Company Profile

TriplePoint Venture Growth BDC Corp. is a business development company specializing investments in venture capital-backed companies at the growth stage investments. It also provides debt financing to venture growth space companies which includes growth capital loans, secured and customized loans, equipment financings, revolving loans and direct equity investments.